On January 4, 2016 United States Attorney General Loretta Lynch signed ATF Rule 41F, which impacts how South Carolina gun trusts may be established in the context of estate planning. The Rule administratively changes federal regulations regarding firearms regulated by Title II of the Gun Control Act (GCA), specifically known as the National Firearms Act, 26 U.S.C. Chapter 53 (the NFA).
The first provision of the rule is that it revises the definition of person and adds a definition for responsible person:
“As to a